Nexo To Allow Investors To Earn Yields on Bored Ape-inspired Token

Nexo customers can earn up to a 12% annual percentage rate for holding ApeCoin (APE) with the crypto platform

article-image

Source: ApeCoin

share
  • The token has a current market cap of $2.4 billion and a fully-diluted valuation of $14.2 billion
  • Yuga Labs announced a seed round of $450 million on March 22

Nexo announced on Tuesday that investors can earn yields on the newly launched Bored Ape Yacht Club-inspired ApeCoin (APE) — billing itself as the first cryptocurrency platform to do so. 

Users can earn up to a 12% annual percentage rate (APR) for holding ApeCoin with the company, and may use APE as collateral for loans.

Nexo’s exchange is also offering a 0.5% cashback incentive on APE purchases.

The announcement closely follows Yuga Labs capital raise of $450 million —- bringing the Bored Ape Yacht Club creator to $4 billion valuation.

APE is an Ethereum utility token, its creators say, which is to be governed by a decentralized autonomous organization — the ApeCoin DAO.

There are currently five active proposals for voting — called AIP for ApeCoin Improvement Proposals. One proposal — AIP-2 — governs the voting process itself.

Holding a token is the only requirement for DAO membership, but the Cayman Islands-based ApeCoin Foundation has the final say on implementation. Each AIP states that “implementation may be immaterially or materially altered to optimise for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP.”

APE will serve as a decentralized protocol layer for new services that “drive culture forward into the metaverse,” according to ApeCoin’s website. 

“The token will provide access to exclusive merchandise, games and events happening in the ecosystem itself,” crypto exchange Binance, which listed APE, said in a statement.

The token, which after its initial price discovery has traded between about $9.60 and $15.35, currently has a market cap of about $2.4 billion, according to CoinGecko

“With APE as a currency that allows you to own land and resources and create assets in an interoperable gaming metaverse, Yuga [Labs is] going full metaverse, not just a viral NFT collection,” Antoni Trenchev, co-founder of Nexo, said in a statement to Blockworks.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (1).jpg

Research

As AI supercharges surveillance, privacy becomes a prerequisite and the winning stack will combine confidentiality with selective disclosure. Zcash’s Tachyon, composable standards on Ethereum/Solana, and compliance-aware pools aim to make private rails the new norm.

article-image

The derivatives giant will extend futures and options access to round-the-clock trading in early 2026

by Blockworks /
article-image

Global fiber network goes live as SEC clears 2Z token for utility use

by Blockworks /
article-image

The SPAC transaction positions Avalanche Treasury Co. as a Nasdaq-listed vehicle for institutional AVAX exposure by 2026

by Blockworks /
article-image

The collaboration brings regulated money market fund exposure to Polygon, with custody provided by Standard Chartered

by Blockworks /
article-image

FG Nexus teams with Securitize to bring its Nasdaq-listed equity onchain, offering tokenized stock trading through Ethereum

by Blockworks /
article-image

Sponsored

Taiko launches binding onchain governance and appoints three directors with expertise in global regulation, business strategy and blockchain tech

by Sponsored /